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Bookings remain very strong
14% increase in SaaS recurring revenue
Another quarter of double-digit growth, with income up 10%
LONDON, United Kingdom – 4 May 2021 | Sidetrade (Euronext Growth: ALBFR.PA), the AI-powered Order-to-Cash platform, has released its 2021 Q1 income figures.
Bookings remain very strong
In Q1 2021, Sidetrade saw a very sharp rise in new bookings, representing additional Annual Recurring Revenue of €0.94m vs €0.27m in Q12020 (period hit hard by the sudden halt in the economy due to the first lockdown).
This sharp rise follows up on the record bookings posted in the last three quarters of 2020.
New customers represent 74% of these bookings, against an annual mean of 55% in 2020. In Q1 2021, Sidetrade signed on prestigious firms in a range of industries, such as Konica Minolta (IT equipment), Antargaz (Energy), Tarkett (Construction materials), MIQ (Media-advertisement), Distrupol (Chemistry) and Klépierre (Property).
The mean commitment period for these new subscribers is 36.2 months, representing €2.46m in SaaS contracts (vs. €0.83m in 2020), as well as €0.81m worth of new bookings for professional services.
14% rise in SaaS recurring revenue, 10% rise in income
2021 information is from consolidated, unaudited data.
SaaS subscriptions have maintained momentum with 14% growth in Q1 2021
Sidetrade posted revenue of €7.5m in the period, up 10%. Beyond strong growth in SaaS subscriptions, overall growth was slightly impacted by less dynamism in services, due to delays in project implementation stemming from the lockdown situation in some countries.
That Sidetrade is riding out the crisis so well can be explained by the resilience of its SaaS business model- 89% of Sidetrade’s income is Annual Recurring Revenue.
As a reminder, on 12 April 2021, Sidetrade announced the definitive acquisition of Amalto, a Texas-based leader in paperless Order-to-Cash operations. Amalto will be consolidated into Sidetrade’s accounts as of 1 April 2021.
Annual Shareholder general meeting: 17 June 2021
First-Half Year Revenue for 2021: 20 July 2021 (after stock market closes)
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About Sidetrade (www.ww.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) is a fast-growing international SaaS company unlocking customer value. Sidetrade’s next-generation AI, nicknamed Aimie, analyzes huge amounts of B2B customer payment behavior data to intelligently automate the order-to-cash process. Based on predictive analytics, Aimie delivers actionable recommendations in real time to enhance retention, upsell/cross-sell, and cash collection. Aimie is a real game-changer in augmented intelligence- a system whereby individuals and machines work together faster and smarter. Sidetrade has a global reach, with 250 talented employees in Paris, London, Birmingham, Dublin, Amsterdam, Houston, and Calgary, and customers in 80 countries. Nearly 3,000 large and mid-size businesses in an array of industries count on Sidetrade technology to outperform the competition.
For further information, visit us at www.sidetrade.com and follow us on Twitter @Sidetrade.
In the event of any discrepancy between the French and English versions of this press release, only the French version is to be taken into account.